Business
Publication of a Prospectus
Publication of a Prospectus.
About this update from Contango Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 7463N\n Contango Holdings PLC\n 22 May 2020\n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATE, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION (\"RESTRICTED JURISDICTIONS\").\n \n \n \n \n \n This announcement is an advertisement for the purposes of the Prospectus Regulation Rules of the Financial Conduct Authority (the \"FCA\") and not a prospectus and not an offer to sell, or a solicitation of an offer to subscribe for or to acquire, securities in any jurisdiction, including in or into the United States, Australia, Canada, Japan or South Africa.\n \n \n Contango Holdings Plc / Index: LSE / Epic: CGO / Sector: Natural Resources\n \n 22 May 2020\n Contango Holdings Plc\n ('Contango' or the 'Company')\n \n Publication of Prospectus & Notice of General Meeting\n \n Contango Holdings Plc (\"Contango\" or the \"Company\"), a company formed to acquire a controlling interest in a company or business in the natural resources sector is pleased to confirm that a prospectus (the \"Prospectus\") has been approved by the Financial Conduct Authority (the \"FCA\") on 20 May 2020 and is to be published by the Company today, 22 May 2020, on its website www.contango-holdings-plc.co.uk.\n \n \n \n \n The Prospectus relates to the proposed acquisition, which constitutes a reverse takeover, by the Company of the Lubu Coalfield in Zimbabwe from Consolidated Growth Holdings Limited (\"CGH\") (the \"Acquisition\"). \n The Company will satisfy the Acquisition consideration of £6,834,829.05 by issuing 128,849,961 ordinary shares of £0.01 each (the \"Ordinary Shares\") at a price of £0.05 each to CGH (the \"Consideration Shares\") and cash of £392,331.00 that has been advanced by the Company to CGH in instalments since 2019 to fund the development of the project. In addition, the Prospectus sets out the details of \n a placing of 28,000,000 Ordinary Shares at a placing price of £0.05 to raise gross proceeds of £1,400,000 (the \"Placing\") ...